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Auslanco - GBP/JPY and GBP/USD (newstrade)

  • #61,541
  • Feb 13, 2008 3:44am Feb 13, 2008 3:44am
Quoting jarroo
Half at 75 pips other half at B/E.
B/E half out at 210.11 Thought Price would break that 4 hour Pin Bar. I guess not. Price action is to strong.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #61,542
  • Feb 13, 2008 3:45am Feb 13, 2008 3:45am


Nope. Long and now well into profit....
You think 213, huh? I was aiming at 212....
  • #61,543
  • Feb 13, 2008 3:45am Feb 13, 2008 3:45am
Quoting JasonGuillen
Hope "claimant count" doesnt ruin my day...
... "claimant count" is not so important. Wait for Inflation Report and then U.S Retail Sales. Those are more serious ...
Discipline + Patience - Fear - Greed = Success
  • #61,544
  • Edited 2:22pm Feb 13, 2008 3:53am | Edited 2:22pm
Quoting arezab
Hi jarroo, do you see that dblhc on 30M chart? I see %50 ret has been finished and then a pin bar appears. Then I see a dblhc after the pin bar. Because the higher close was too long I waited for a retracement. The retracement has just finished and now is the time to enter long.

Do you agree? Since you have more study and experience in PA, I just wanted to ask about your opinion. I'm still working on PA. It's amazing ...

this is what I see ...
No, I don't see that on the 30 min chart. Gotta chart? You really don't want to look at Price Action on lower time frames. The higher the better. The lowest I go is the hourly and that can be unreliable. The higher the time frame the more weight or respect Price Action has.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #61,545
  • Feb 13, 2008 3:54am Feb 13, 2008 3:54am
Quoting karmostaji
are you short?
No, actually, just a little dumb...I saw the negative 10, when we were expecting negative five, and didnt see what I was seeing....
  • #61,546
  • Feb 13, 2008 4:01am Feb 13, 2008 4:01am
Quoting jarroo
No, I don't see that on the 30 min chart. Gotta chart? You really don't want to look at Price Action on lower time frames. The higher the better. The lowest I go is the hourly and that can be unreliable. The high the time frame the more wieght or respect Price Action has.

Jim
I edited my post and attached a chart to it ...
Discipline + Patience - Fear - Greed = Success
  • #61,547
  • Feb 13, 2008 4:10am Feb 13, 2008 4:10am
Quoting jarroo
No, I don't see that on the 30 min chart. Gotta chart? You really don't want to look at Price Action on lower time frames. The higher the better. The lowest I go is the hourly and that can be unreliable. The high the time frame the more wieght or respect Price Action has.

Jim
Yeah Jim you are right.. .I know that lower TF's are not so reliable like 4H and Daily but I wanted to test it ... though it seems to work fine. I went long in that point and the trade is now in profit but the main point was that according to james16 price action, PA should work in every market and on every Time Frame ... all conditions were available to enter a long position ... as you can see in my chart ...
Discipline + Patience - Fear - Greed = Success
  • #61,548
  • Feb 13, 2008 4:11am Feb 13, 2008 4:11am
Quoting arezab
I edited my post and attached a chart to it ...
Oh sorry, arezab . . .trying to do to many things at one time.

Ok. Yes, that is a DBLHC. Like I said the lower time frames are a bit unreliable. They don't carry much strength is what I'm saying. But let me tell you something, they are whole lot better then some kookie indicator.

Practise is the key. Study them over time and soon they will pop out off the charts.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #61,549
  • Feb 13, 2008 4:18am Feb 13, 2008 4:18am
Hey, arezab. Good call on that 30 min Price Action. You'll find though that the 30 min is not a reliable gage. But hey, good call.
Indicators show the past. Price Action "Indicates" the future.
  • #61,550
  • Feb 13, 2008 4:23am Feb 13, 2008 4:23am
Quoting jarroo
Hey, arezab. Good call on that 30 min Price Action. You'll find though that the 30 min is not a reliable gage. But hey, good call.
Thank you Jim
Discipline + Patience - Fear - Greed = Success
  • #61,551
  • Feb 13, 2008 4:24am Feb 13, 2008 4:24am
arezab, see how I got out of the last short trade. The 4 hour Pin Bar told me to get out. I probable should have got out sooner. But hey, look what happen after I got out. Price soared up. This is what is meant when people say "let the market tell when to get out". Again, it takes practise.

Jim
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #61,552
  • Feb 13, 2008 4:36am Feb 13, 2008 4:36am
Quoting arezab
Thank you Jim
Check out this DBHLC on the Daily back in Aug. 2007. That baby was worth 1900 pips. I missed most of that, but got some
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #61,553
  • Feb 13, 2008 4:39am Feb 13, 2008 4:39am
  • #61,554
  • Feb 13, 2008 4:40am Feb 13, 2008 4:40am
Patience is the best indicator and it's not available on any platform
Trade what you see, not what you think.
  • #61,555
  • Feb 13, 2008 4:43am Feb 13, 2008 4:43am
Didn't take this easy trade off the 4 hour Pin Bar and S/R level of 209.92. Oh well, I already made my goal for today. I got to leave some for you guys.

Have a great day,
Jim
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #61,556
  • Feb 13, 2008 4:43am Feb 13, 2008 4:43am
Quoting jarroo
arezab, see how I got out of the last short trade. The 4 hour Pin Bar told me to get out. I probable should have got out sooner. But hey, look what happen after I got out. Price soared up. This is what is meant when people say "let the market tell when to get out". Again, it takes practise.

Jim
yes quite right Jim. 4H time frame has more weight, your chart speaks a thousand words for me. I'm quite fascinated with this PA and as you said it takes time to master and it takes practice for eyes to pick up the best signal.

You know, the reason I'm working on lower TF's is that since I'm only trading GJ, it can be quite boring to wait for a signal to appear on longer TF's like 4H and daily, may be in that case I should wait days to see a signal. Therefore I'm interested to try lower TF's specially when several things like end of a retracement, fibo levels and S/R levels confluence at the same time (like today). I won't enter a position on lower TF's just because of a PA pattern. I'm learning though ...

I know you are experienced in this and I will use your information for sure.
Thank you.
Discipline + Patience - Fear - Greed = Success
  • #61,557
  • Feb 13, 2008 4:53am Feb 13, 2008 4:53am
Quoting arezab
yes quite right Jim. 4H time frame has more weight, your chart speaks a thousand words for me. I'm quite fascinated with this PA and as you said it takes time to master and it takes practice for eyes to pick up the best signal.

You know, the reason I'm working on lower TF's is that since I'm only trading GJ, it can be quite boring to wait for a signal to appear on longer TF's like 4H and daily, may be in that case I should wait days to see a signal. Therefore I'm interested to try lower TF's specially when several things like end of a retracement, fibo levels and S/R levels confluence at the same time (like today). I won't enter a position on lower TF's just because of a PA pattern. I'm learning though ...

I know you are experienced in this and I will use your information for sure.
Thank you.
Confluence is the key. I won't take a trade unless there is confluence with S/R level or Fibs. Lower time framers are good to learn on, but trust me over time you'll swear by the Higher TFs. Hey, Good Job. Your on the right path in my book and ahead of the game.

Being bored is part of the game. You need to get a prescription to Karmo's patient pills. They are worth the money.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #61,558
  • Feb 13, 2008 4:55am Feb 13, 2008 4:55am
Quoting jarroo
arezab, see how I got out of the last short trade. The 4 hour Pin Bar told me to get out. I probable should have got out sooner. But hey, look what happen after I got out. Price soared up. This is what is meant when people say "let the market tell when to get out". Again, it takes practise.

Jim
I also took profit on my short from 210.63 when i saw rejection around 209.50 area. I added a few longs looking for 211.80/212 area. where I may look to sell into the rally again on a dow crash after bad retail news.
  • #61,559
  • Feb 13, 2008 4:56am Feb 13, 2008 4:56am
Quoting jarroo
Confluence is the key. I won't take a trade unless there is confluence with S/R level or Fibs. Lower time framers are good to learn on, but trust me over time you'll swear by the Higher TFs. Hey, Good Job. Your on the right path in my book and ahead of the game.

Being bored is part of the game. You need to get a prescription to Karmo's patient pills. They worth the money.

Jim
Longer TF's + Patience = King
Trade what you see, not what you think.
  • #61,560
  • Feb 13, 2008 4:58am Feb 13, 2008 4:58am
Quoting ovaforty
I also took profit on my short from 210.63 when i saw rejection around 209.50 area. I added a few longs looking for 111.80/212 area. where I may look to sell into the rally again on a dow crash after bad retail news.
Nice trade.
Indicators show the past. Price Action "Indicates" the future.
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